Saturday, June 15, 2024

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Signature Bank

President Biden claims American banking system remains safe following collapse of two US banks, blames Trump administration for crisis

Silicon Valley Bank and Signature Bank in America collapsed earlier this month which has raised concern among customers who hold their money in other similar-sized banks.

‘Those who invested in failed Silicon Valley Bank and Signature Bank won’t be protected. They knowingly took the risk’: US President Joe Biden

"They knowingly took a risk and when the risk didn’t pay off, investors lose their money. That’s how capitalism works,” said Joe Biden.

Another massive bank failure in USA: Regulators shut down New York’s Signature Bank, two days after authorities forced Silicon Valley Bank’s closure

The decision to shut down New York-based Signature Bank came on the heels of Silicon Valley Bank's failure on Friday

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